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KOLKATA: Singapore-headquartered fintech company LenddoEFL has appointed Darshan Shah as managing director, India and South Asia, effective April 16.
In his new role, Shah will be responsible for growing LenddoEFL’s footprint in India and South Asia as well as bring more financial institutions in the region on board as clients who would be using LenddoEFL services.
Shah comes with close to two decades of experience in the credit information industry. He has worked with large organisations like TransUnion CIBIL and Equifax (Canada) in leadership roles. His last role was as director (credit services) at Experian.
LenddoEFL operates in more than 20 emerging markets and uses unconventional data sources like digital footprint, mobile phone data, behavioral and character traits to provide credit scoring and identity verification solutions for the underserved in emerging markets.
“Our mission is to provide one billion people access to powerful financial products at a lower cost, faster and more conveniently. It is thus imperative to serve South Asian countries including India as these economies have huge demographic dividend. Even RBI’s mission is to bring about 600mn people by 2020 in formal financial sector. With GenX growing up and 40% of millennials in India, there is an immense opportunity for helping people to have faster and cheaper access to credit. We want to empower people to use their digital profiles and personality traits to increase their financial options,” said Shah.